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Georgetown ISD receives upgraded bond rating from Standard and Poor’s

Citing a growing tax base and good financial management practices, Standard & Poor’s has upgraded the bond rating for Georgetown ISD  to “AA” from “AA-” in its rating report released earlier this month.

“Even though our bonds are guaranteed by the Texas Permanent School Fund with an AAA rating, the district’s underlying ratings provide investors with a current financial picture and an outlook of future conditions of the district,” Pam Sanchez, chief financial officer, said.  “The improved rating could attract additional investors making our bonds more competitive and potentially lowering the interest rate on new bond issuances.

S&P cited the continued growth in the district’s tax base, good financial management practices and the action taken by the Board to adopt a fund balance policy, which has created strong general fund reserves.

Moody’s has maintained the current rating of “Aa1” with an outlook of stable for the district.